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Health Savings Accounts (HSAs)

Enjoy Tax Benefits while Saving for Medical Expenses

A Health Savings Account (HSA) is a tax-advantaged account that lets you save money for future medical expenses. Contributions can be made by you and/or your employer. Total annual contributions are deductible on your federal tax return. Money in your account can be used to pay for medical expenses for yourself, your spouse, or your dependent children, for any "qualified medical expense" permitted by law. Contributions must stop once you are enrolled in Medicare, but you can keep any money in your account and use it tax-free for medical expenses.

Contributions to your HSA can be made by you, your employer, or both. While total annual contributions are limited, you can deduct these contributions on your federal tax return. Contact your tax advisor.

You can use the money in your account to pay for the medical expenses of yourself, your spouse or your dependent children for any "qualified medical expense" permitted under the law including:

Most medical care and services

Dental and Vision care

Prescription drugs

Although contributions must stop once you are enrolled in Medicare, you can keep any money you have placed in your account and use it tax-free for medical expenses.

NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act